As Unemployment Rises, It May Take A Generation to Narrow Skills Gap
The evolution of technology allows companies to hire less employees, but many sectors have job demand the market can't fill, and it may take a generation to adjust to the market and acquire the necessary skills.
The U.S. unemployment rate rose in February, deepening the concern that job seekers lack skills for the evolving economy. Schulte, Roth & Zabel partner Ronald Richman tells TheStreet's Joe Deaux the evolution in technology allows companies to hire less employees, but many sectors have job demand the market can't fill. While this appears to be a huge structural problem, Richman says in a generation individuals will adjust to the market and acquire the necessary skills.
